backup fund JUST WRITTEN FOR YOU
/ˈbækˌʌp fʌnd/ · bac·kup fund
noun
- A reserve of money or assets set aside to cover unexpected expenses or financial shortfalls. The company established a backup fund to cover potential losses from a major project.
- A source of financial support or assistance in case of emergency or unforeseen circumstances. The government created a backup fund to help families affected by natural disasters.
Did you know? The concept of a backup fund dates back to ancient civilizations, where rulers and merchants maintained treasuries to cover unexpected expenses and maintain stability.